Special Report

25 Countries Where the Rich Are Taxed the Most

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6. Aruba
> Personal income tax rate 2021: 52.00%
> Total population: 106,766

Aruba has four marginal tax brackets, with the top rate applying for incomes above 147,454 Aruban florin ($81,908). While the top rate has not changed, the island country off the coast of Venezuela lowered income taxes for the first two brackets — anyone earning less than 65,904 Aruban florin ($17,943).

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5. Sweden
> Personal income tax rate 2021: 52.85%
> Total population: 10,353,442

Sweden’s tax rates vary by municipality. The average rate is 32.27%. Incomes of 523,200 Swedish kronor ($58,680) and above trigger an additional state tax of 20%. There is a mandatory funeral fee that is levied as well.

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4. Austria
> Personal income tax rate 2021: 55.00%
> Total population: 8,917,205

Austria has seven marginal tax brackets, with the top rate levied at annual incomes above 1 million euros ($1,132,321). There is no income tax on yearly earnings below 11,000 euros ($12,444).

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3. Japan
> Personal income tax rate 2021: 55.97%
> Total population: 125,836,021

Japan had seven tax brackets in 2021, with the highest activating at an annual income over 40,000,000 yen ($350,494). Taxes are also levied by municipalities and prefectures, and Japan also has a special surtax through 2037 to fund reconstruction of areas affected by the 2013 earthquake and the Fukushima nuclear disaster.

Source: scanrail / Getty Images

2. Denmark
> Personal income tax rate 2021: 56.50%
> Total population: 5,831,404

Denmark has the second highest top marginal income tax brackets in the world, and the second highest of Scandinavian countries. Income above 544,800 Danish krone ($82,950) is taxable at the highest rate.

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